TheMReport — News and strategies for the evolving mortgage marketplace.
Issue link: http://digital.themreport.com/i/343616
64 | Th e M Rep o RT Final ThoughTs Final Thoughts The buzz in Washington is as hot as the temperature outside. Check out whose tongues are wagging. "Julian ha vivido el Sueño Americano. (Julian has lived the American Dream.)" — President ObaMa on his nomination of San Antonio Mayor Julian Castro for HUD Secretary "It's deeply concerning how quickly we forget the devastating impact that abusive lending practices had on the housing market and the larger economy." — Kenneth edwards, VP at the Center for Responsible Lending, responds to the House's vote to pass the Mortgage Choice Act. "The settlement delivered not just what we promised the president, but far more." — Departing HUD Secretary shaun dOnOvan tells The Washington Post about one of his most memorable moments: finalizing the $25 billion National Mortgage Settlement. Not everyone agrees with Donovan's take. "[C]ompanies that managed to break even in the first quarter should consider that a reasonable outcome." — Marina walsh, VP on industry analysis for MBA, comments on rising loan costs and poor market demand. "[W]e believe May results could prove to be a leading indicator of what is shaping up to be the weakest overall origination year in recent memory." — FBR Capital Markets, in a letter to clients. "The GSEs will not be able to replicate the levels of revenue they achieved over the past two years." — Treasury Under Secretary Mary Miller sets the facts straight on Fannie's and Freddie's profitability. "The housing crisis, recession, and continued economic instability appear to have shaken the confidence of many Americans, particularly when it comes to big-ticket items such as a house." — National Foundation for Credit Counseling spokesperson Gail Cunningham. One in five Americans in a recent NFCC survey said taking out a mortgage is not worth the risk.